Sold!
$7,800,000
82
Beds
45
Baths
39,612
Living Area
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Property Description
The Oakland & Lake Estates multi-family investment portfolio is located at 35 & 50 Lake Street and 20 Oakland Beach Avenue in Warwick, RI. The Portfolio is a well maintained, stabilized asset in a growing, high demand real estate market that offers additional upside. The Portfolio is comprised of four multi-family buildings and contains forty-five residential units: two Studio units, four 1-Bed/1-Bath units, and thirty-nine 2-Bed/1-Bath units. Within the past three years, 31 units have been renovated, exteriors and interiors of the properties have been painted, hallway carpets have been replaced, and new high efficiency gas heating systems have been installed. The opportunity exists to drive rental rates through programmatic upgrades and renovations to the kitchens and bathrooms in the unrenovated units, allowing the incoming owner to maximize rents in a supply constrained market.
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Highlights
- Acres: 2
- Parking Spots: 80
- Property Type: 5+ Family - 5+ Units Up/Down
- Total Rooms: 99
- Status: Closed
- Levels: 3
- Property Class: Residential Income
- Stories: 3
- Year Built: 1960
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Additional Details
- Foundation: Other
- Road Frontage Type: Public
- SqFt Source: Public Record
- Year Built Details: Actual
- Zoning: Comm Apts
- Lot Features: Other
- Roof: Shingle, Rubber
- Total Number of Units: 45
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Shopping, Park, Medical Facility, Highway Access, Private School, Public School, T-Station, University
- Waterfront Features: 1/2 to 1 Mile To Beach
- Parking Features: Off Street
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Utilities
- Electric: Individually Metered
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $4,492,800
- Tax Year: 2024
- Total Rent: $32,767
- Rental Fee Includes: Unit 1(Heat, Water, Hot Water), Unit 2(Heat, Water, Hot Water)
- Taxes: $54,196
Content © 2026 MLS Property Information Network, Inc. The information in this listing was gathered from third party resources including the seller and public records.
Listing information provided courtesy of Horvath & Tremblay.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
